Thomas Cook shares collapse on fresh profit warning

LONDON (AFP) - Thomas Cook shares collapsed by almost one third Tuesday as the British travel firm issued a fresh profits warning and suspended its dividend.

The company said underlying annual profits would come in at £250 million ($321 million, 283 million euros) for the 12 months to September.

The group had already warned in September that its annual profits would be slashed to around £280 million.

Thomas Cook will publish final results on Thursday, while 2017/18 earnings were knocked badly by rising costs and a long period of hot European weather over the summer -- which saw customers put off last-minute holidays abroad.